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Despite acknowledging general concerns, Obama administration officials said it’s too soon for them to weigh into a messy debate between bondholders and community groups over the use of eminent domain to forcibly purchase and restructure underwater mortgages. Elliot Mincberg, a top official at the Department of Housing and Urban Development, responded earlier this week to three California lawmakers who had asked the agency to clarify its views on the proposed use of eminent domain by cities to … [Read more...]
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